Filed under: Real Estate, Home Buying
It's natural to want to get the most bang for your buck when you buy a house. So perhaps you're tempted -- rather than seeking out an established, solidly middle-class community -- to purchase a home in a neighborhood that (you hope) is up-and-coming.Maybe you've spotted a cute neighborhood with older houses that are slowly being remodeled. A few cafes have opened, and some offices are moving into the area. You've notice a new coffee shop and co-working space. And, tellingly, a look at the recent sales data shows you that home prices have climbed 10 percent year-over-year for that ZIP code. "Great," you think. "This is a clearly an emerging neighborhood. I'll buy here."
Not so fast! Before you sign on the dotted line, you need to seriously weigh the pros and cons against your personal values, goals and preferences to decide what's best for you.
Paula Pant ditched her 9-to-5 job in 2008. She's traveled to 30 countries, owns six rental units and runs a business from her laptop. Her blog, Afford Anything, is a gathering spot for rebels who refuse to say, "I can't afford it." Visit Afford Anything to learn how to shatter limits and live life on your own terms.